Consolidated Planning Corp Invests $4.10 Million in NiSource, Inc (NYSE:NI)

Consolidated Planning Corp purchased a new stake in NiSource, Inc (NYSE:NI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 102,172 shares of the utilities provider's stock, valued at approximately $4,096,000.

Several other institutional investors have also added to or reduced their stakes in NI. Canada Post Corp Registered Pension Plan bought a new position in NiSource during the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of NiSource by 64.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock valued at $31,000 after buying an additional 299 shares during the last quarter. Quent Capital LLC boosted its stake in shares of NiSource by 44.7% during the 1st quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider's stock worth $40,000 after acquiring an additional 310 shares during the period. Optiver Holding B.V. increased its holdings in shares of NiSource by 105.0% during the 4th quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider's stock worth $47,000 after acquiring an additional 656 shares during the last quarter. Finally, Bellwether Advisors LLC acquired a new position in shares of NiSource during the 4th quarter worth approximately $55,000. 91.64% of the stock is owned by institutional investors.

Insider Buying and Selling at NiSource

In other news, Director Michael E. Jesanis sold 6,178 shares of NiSource stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the completion of the transaction, the director now directly owns 18,541 shares of the company's stock, valued at approximately $701,035.21. This trade represents a 24.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Melanie B. Berman sold 6,227 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $39.42, for a total value of $245,468.34. Following the completion of the transaction, the executive vice president now directly owns 28,882 shares in the company, valued at $1,138,528.44. This represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,405 shares of company stock valued at $631,939. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NI shares. UBS Group lifted their price objective on shares of NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Guggenheim lifted their price target on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. BMO Capital Markets upped their price objective on NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. lifted their target price on NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company boosted their target price on NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NiSource currently has a consensus rating of "Buy" and a consensus price target of $41.50.

NiSource Trading Down 0.3%

NiSource stock traded down $0.10 during trading hours on Thursday, hitting $39.63. The stock had a trading volume of 4,714,806 shares, compared to its average volume of 4,124,846. The business's 50 day simple moving average is $39.28 and its 200-day simple moving average is $38.54. NiSource, Inc has a one year low of $28.42 and a one year high of $41.45. The stock has a market cap of $18.65 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 2.69 and a beta of 0.54. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.08. NiSource had a net margin of 14.67% and a return on equity of 8.41%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business earned $0.85 EPS. On average, equities analysts predict that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.83%. The ex-dividend date is Thursday, July 31st. NiSource's payout ratio is presently 60.54%.

NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.